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Mets, Freddy Peralta “Highly Unlikely” To Agree To Extension Before Opening Day

By | at March 21, 2026 4:41pm CDT

Back in the first week of March, Freddy Peralta and the Mets hadn’t yet begun any real discussions about a possible contract extension, and Peralta said he was looking to land a deal “seven or eight years” in length.  In the latest update from Jon Heyman of the New York Post, the two sides have had some level of talks in the interim, and things remain far enough apart between Peralta and the Mets that an extension is “highly unlikely” to happen prior to Opening Day.

This doesn’t necessarily rule out a deal altogether.  The Mets are reportedly open to talking even after play begins on March 26, and Peralta “didn’t say he was opposed” to continuing negotiations, though he told Heyman he would let his agents at ACES make that determination.  Most players set Opening Day as a deadline for extension talks in order to focus exclusively on baseball, though this isn’t a uniform approach, and naturally negotiations often continue if the two sides feel they’re very close to finalizing an agreement.

Peralta is set to become a free agent next winter, which is why the Brewers were looking to trade the ace this offseason rather than just let him walk for a draft pick at season’s end.  The Mets won the bidding to pry Peralta away from Milwaukee, and between both the hefty trade return and Peralta’s obvious ability, New York surely has interest in keeping Peralta in Queens for years to come.  Exactly how many years seems to be the sticking point between the two parties, as Peralta’s aim for at least seven years runs counter to the Mets’ desire to sign pitchers to shorter-term contracts.

One potential compromise could be a four- or five-year extension worth a high average annual value, and with multiple opt-outs.  The Mets used such a structure to land Bo Bichette on a three-year, $126MM free agent pact this offseason, and opt-outs were included in past contracts for Edwin Diaz and Pete Alonso.  Due to the likelihood of a lockout next winter, an extension that contains an opt-out for perhaps as early as the 2027-28 offseason would allow Peralta to re-enter the market at age 31, and avoid any labor unrest.

Of course, Peralta also projects to be one of the top free agents available next winter, so his market may not be much affected since teams will be lining up to try and get him signed (likely before the Collective Bargaining Agreement expires on December 1).  Peralta also may not want to compromise on his next contract after already signing what ended up being a very team-friendly extension with the Brewers early in his career.  That five-year, $15.5MM extension turned into a seven-year deal worth an extra $14.5MM for Peralta once Milwaukee exercised both club options, yet it still amounted to a gigantic bargain for the Brew Crew as Peralta developed into a frontline pitcher.

David Stearns was the Brewers’ president of baseball operations at the time of Peralta’s extension, and Stearns now holds that same role in New York’s front office.  Maybe Stearns is willing to go longer on a contract for a pitcher he obviously knows well and values highly, and with Peralta so close to free agency, the Mets might simply have to pay top dollar in order to keep Peralta from testing the market.

Speaking of the Mets and pitcher extensions, Heyman adds that “there’s no indication” that the Mets and Nolan McLean have discussed any long-term deals.  McLean was an instant star in posting a 2.06 ERA over 48 innings in his 2025 debut season, and now looks like a cornerstone piece of New York’s rotation.

As MLBTR’s Contract Tracker indicates, it’s pretty rare for pitchers to sign long-term extensions when they have less than one year of MLB service time.  Chris Archer‘s six-year, $25.5MM extension with the Rays from April 2014 remains the largest deal ever given to a pitcher with under a year of service time, and McLean’s reps at CAA would surely be looking to vastly surpass Archer’s number.

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